Vertex, Inc. (NASDAQ:VERX) Receives $48.91 Average PT from Brokerages

Shares of Vertex, Inc. (NASDAQ:VERX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $50.73.

Several research analysts recently issued reports on the company. Raymond James reissued a "market perform" rating on shares of Vertex in a research note on Friday, January 3rd. Stifel Nicolaus downgraded Vertex from a "buy" rating to a "hold" rating and cut their target price for the company from $58.00 to $31.00 in a research report on Friday, February 28th. Morgan Stanley lowered their price target on Vertex from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Vertex in a research note on Thursday, March 20th. Finally, Robert W. Baird dropped their target price on Vertex from $62.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th.

Vertex Price Performance

Shares of VERX stock traded up $0.28 during trading hours on Friday, hitting $39.99. The stock had a trading volume of 50,298 shares, compared to its average volume of 1,017,202. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 222.33, a PEG ratio of 6.66 and a beta of 0.80. Vertex has a one year low of $27.96 and a one year high of $60.71. The stock's 50-day moving average price is $37.20 and its two-hundred day moving average price is $46.31.

Vertex (NASDAQ:VERX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Vertex had a net margin of 4.73% and a return on equity of 24.92%. The company had revenue of $178.46 million for the quarter, compared to analysts' expectations of $176.90 million. Equities analysts forecast that Vertex will post 0.38 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Bryan T.R. Rowland sold 43,228 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $35.98, for a total value of $1,555,343.44. Following the completion of the sale, the general counsel now directly owns 132 shares in the company, valued at $4,749.36. The trade was a 99.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 44.58% of the company's stock.

Institutional Investors Weigh In On Vertex

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Vertex by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 6,858,981 shares of the company's stock valued at $365,927,000 after purchasing an additional 137,666 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Vertex by 1.5% in the fourth quarter. Neuberger Berman Group LLC now owns 3,527,604 shares of the company's stock worth $188,198,000 after acquiring an additional 53,829 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Vertex by 30.3% in the first quarter. Conestoga Capital Advisors LLC now owns 2,947,740 shares of the company's stock worth $103,200,000 after acquiring an additional 686,145 shares during the last quarter. FMR LLC increased its position in shares of Vertex by 25.4% during the fourth quarter. FMR LLC now owns 2,868,438 shares of the company's stock worth $153,031,000 after purchasing an additional 580,664 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Vertex by 26.0% in the 4th quarter. Franklin Resources Inc. now owns 2,129,099 shares of the company's stock valued at $113,587,000 after purchasing an additional 439,054 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company's stock.

Vertex Company Profile

Vertex, Inc, together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers tax determination; compliance and reporting, including workflow management tools, role-based security, and event logging; tax data management; document management; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions; and technology specific solutions, such as chain flow accelerator and SAP-specific tools.